Genes Tech Group Holdings Co.Ltd announces 2020 Interim Resu
Interim Results Highlights
- Stable business development with a total revenue of approximately NTD843.34 million recorded
- The total comprehensive income attributable to owners of the Company amounted to approximately NTD96.36 million
- Revenue from the trading of SME and parts increased significantly by approximately 657.36% to approximately NTD242.34 million
- Maintains close cooperative relationships with the existing international customers, of which its business in the United States increased substantially by 239.56% over the corresponding period of last year
- The gearing ratio decreased 11 percentage points to approximately 91.00%
HONG KONG, Aug. 13, 2020 /PRNewswire/ -- Genes Tech Group Holdings Co. Ltd ("Genes Tech Group" or "The Group", Stock Code: 8257.HK) announces its interim results for the six months ended 30 June 2020 ("During the period"). During the period, the Group recorded a total revenue of approximately NTD843.34 million. The total comprehensive income attributable to owners of the Company amounted to approximately NTD96.36 million. Basic earnings per share amounted to approximately NTD9.60 cents.
During the period, revenue from the trading of SME and parts recorded as approximately NTD242.34 million, representing an increase of approximately 657.36% compared to the corresponding period of last year and accounted for approximately 28.74% of total revenue of the Group. The revenue from the turnkey solutions amounted to approximately NTD601.00 million. Despite the weakening global consumption as a result of the spread of novel coronavirus pneumonia (COVID-19), the Group is able to maintain a steady business development during this adversity by leveraging on its strengths and maintains good and close cooperative relationships with the existing international customers. During the period under review, the revenue from its local business in Taiwan accounted for approximately 56.68% of revenue of the Group, while the revenue from its business in the United States increased obviously by 239.56% over the corresponding period of last year.
It is expected that the semiconductor industry condition in the second half of the year is still subject to the development of COVID-19 in the world. Nonetheless, the semiconductor industry in Taiwan is becoming more important to the world. In addition, driven by the acceleration of the construction of 5G base stations in various countries, the demand for data centres and artificial intelligence, and since the semiconductor industry as a whole is more resilient than other industries, semiconductor in Taiwan has established itself as an important core in the world, and is expected to continue its growth and to be recognised by the international market.
Besides, Genes Tech Group has submitted a formal application to the Stock Exchange of Hong Kong Limited for the Proposed Transfer of Listing to the Main board in June. The Group believes that the Proposed Transfer of Listing will enhance its profile and the attractiveness of the Shares to institutional and retail investors, broaden its investor base, and allow the Group to reach out to other potential customers and suppliers which may ultimately help promote the business development of the Group.
Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: "In view of the severe epidemics around the world and the subsequent global economic slowdown, the global economy is still under pressure in the short term. The semiconductor market may need a certain period of time to have a full recovery. The Group will continue to pay close attention to the latest development of epidemic and will actively adopt a proactive, rapid and orderly contingency strategy to seize new opportunities in adversity to stabilise our business development. Leveraging on our industry experience over years, coupled with the rigorous requirements for products as always and the timely formulation of strategic development approaches, this will help the Group to enhance our core competitiveness and gradually expand the business footprint, further consolidate our position in the market and create long-term values for our shareholders."
About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK)
Genes Tech Group Holdings Co. Ltd is a turnkey solution provider and exporter of used SME and Parts based in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution of used SME and Parts to its customers and altering and/or upgrading the semiconductor equipment used in the production systems of its customers according to their needs. Moreover, the Group also engages in the trading of SME and Parts. SME and Parts that the Group provides, including furnace, clean track and others, which are used in the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these are widely used in mobile phones, game consoles, DVD players and many other digital consumer electronic products.
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SOURCE Genes Tech Group Holdings Co. Ltd